Which of the following is considered to be the major cause of the recession of 2001?
A) A decrease in defense spending
B) A spike in oil prices and the collapse of the housing bubble
C) A decline in oil prices and the collapse of the housing bubble
D) Federal Reserve policy
E) None of the above.

Question

Quizplus · Accepted Answer

The recession of 2001 was primarily caused by a combination of factors, including a spike in oil prices and the collapse of the housing bubble. Other factors may have contributed as well, such as a decrease in defense spending and Federal Reserve policy, but these were not the major causes of the recession.

Which of the Following Is Considered to Be the Major